HomeMy WebLinkAboutReso 076-87 PERS AmendRESOLUTION NO. 76- 87
RESOLUTION OF INTENTION
TO APPROVE AN AMENDMENT TO CONTRACT
BETWEEN THE
BOARD OF ADMINISTRATION
OF THE
PUBLIC EMPLOYEES' RETIREMENT SYSTEM
AND THE
CITY COUNCIL
OF THE
CITY OF DUBLIN
WHEREAS, the Public Employees' Retirement Law permits the participation of
public agencies and their employees in the Public Employees'
Retirement System by the execution of a contract, and sets forth
the procedure by which said public agencies may elect to subject
themselves and their employees to amendments to said Law; and
WHEREAS, one of the steps in the procedure to amend this contract is the
adoption by the governing body of the public agency of a resolution
giving notice of its intention to approve an amendment to said
contract, which resolution shall contain a summary of the change
proposed in said contract; and
WHEREAS, the following is a statement of the proposed change:
To provide Sections 21380-87 (1959 Survivor Benefits)
including Section 21382.4 (Third Level of 1959
Survivor Benefits) for local miscellaneous members.
NOW, THEREFORE, BE IT RESOLVED that the governing body of the above agency
does hereby give notice of intention to~approve an amendment to
the contract between the said governing body and the Board of
Administration of the Public Employees' Retirement System, a copy
of said amendment being attached hereto, as an "Exhibit" and by
this reference made a part hereof.
PASSED, APPROVED AND ADOPTED this 14th day of SePtember,
1987.
AYES:
Councilmembers Hegarty, Moffatt, Snyder,
Vonheeder and Mayor Jeffery
NOES: None
ABSENT: None
ATTE.~?~ ~er~~
City Cler
COPY ***
AMENDMENT TO CONTRACT
BETWEEN THE
BOARD OF ADMINISTRATION
OF THE
PUBLIC EMPLOYEES' RETIREMENT SYSTEM
AND THE
CITY COUNCIL
OF THE
CITY OF DUBLIN
The Board of Administration, Public Employees' Retirement System, hereinafter
referred to as Board, and the governing body of above public agency, herein-
after referred to as Public Agency, having entered into a contract effective
February 1, 1983, and witnessed December 13, 1982, and as amended effective
April 12, 1986, which provides for participation of Public Agency in said
System, Board and Public Agency hereby agree as follows:
Paragraphs 1 through 10 are hereby stricken from said contract as executed
effective April 12, 1986, and hereby replaced by the following paragraphs
numbered 1 through 10 inclusive:
All words and terms used herein which are defined in the Public
Employees' Retirement Law shall have the meaning as defined therein
unless otherwise specifically provided. "Normal retirement age"
shall mean age 60 for local miscellaneous members.
Public Agency shall participate in the Public Employees' Retirement
System from and after February 1, 1983 making its employees as
hereinafter provided, members of said System subject to all provisions
of the Public Employees' Retirement Law except such as apply only on
election of a contracting agency and are not provided for herein and
to all amendments to said Law hereafter enacted except those, which by
express provisions thereof, apply only on the election of a contract-
ing agency.
Employees of Public Agency in the following classes shall become
members of said Retirement System except such in each such class as
are excluded by law or this agreement:
Employees other than local safety members (herein referred to as
local miscellaneous members).
In addition to the classes of employees excluded from membership by
said Retirement Law, the following classes of employees shall not
become members of said Retirement System:
a. FIRE FIGHTERS; AND
b. POLICE OFFICERS.
** COPY ***
The fraction of final compensation to be provided for each year of
credited prior and current service as a local miscellaneous member
shall be determined in accordance with Section 21251.13 of said
Retirement Law (2% at age 60 Full).
6. The~ ollowing additional provisions of the Public Employees'
Re ement Law, which apply only upon election of a contracting
y, shall apply to the Public Agency and its employees:
-~. Section 20835.1 (Limits Prior Service Credit to Members Employed
~ on Contract Date).
Sections 21380 - 21387 (1959 Survivor Program) including
Section 21382.4 (Third Level of 1959 Survivor Benefits).
Public Agency, in accordance with Government Code Section 20759, shall
not be considered an "employer" for purposes of the Public Employees'
Retirement Law. Contributions of the Public Agency shall be fixed and
determined as provided in Government Code Section 20759, and such
contributions hereafter made shall be held by the Board as provided in
Government Code Section 20759.
8. Public Agency shall contribute to said Retirement System as follows:
With respect to local miscellaneous members, the agency shall
contribute the following percentages of salaries earned as
members of said Retirement System:
(1)
0.159 percent until June 30, 2007 on account of the
liability for prior service benefits. (Subject to annual
change.)
(2)
5.929 percent until June 30, 2011 on account of the
liability for current service benefits. (Subject to annual
change.)
Public Agency shall contribute $3.50 per employee on account of
the liability for the 1959 Survivor Program provided under
Section 21382.4 of said Retirement Law. (Subject to annual
change.) In addition, all assets and liabilities of Public
Agency and its employees shall be pooled in a single account,
based on term insurance rates, for beneficiaries of all local
miscellaneous members.
A reasonable amount, as fixed by the Board, payable in one in-
stallment within 60 days of date of contract to cover the costs
of administering said System as it affects the employees of
Public Agency, not including the costs of special valuations or
of the periodic investigation and valuations required by law.
** COPY ***
A reasonable amount, as fixed by the Board, payable in one in-
stallment as the occasions arise, to cover the costs of special
valuations on account of employees of Public Agency, and costs of
the periodic investigation and valuations required by law.
Contributions required of Public Agency and its employees shall be
subject to adjustment by Board on account of amendments to the Public
Employees' Retirement Law, and on account of the experience under the
Retirement System as determined by the periodic investigation and
valuation required by said Retirement Law.
10.
Contributions required of Public Agency and its employees shall be
paid by Public Agency to the Retirement System within thirty days
after the end of the period to which said contributions refer or as
may be prescribed by Board regulation. If more or less than the
correct amount of contributions is paid for any period, proper
adjustment shall be made in connection with subsequent remittances.
Adjustments on account of errors in contributions required of any
employee may be made by direct payments between the employee and the
Board.
This amendment shall be effective on the
November , 19 87
OD OF ADMINISTRATION ~
PUBLIC EMPLOYEES ' RETIREM~ SYSTEM
SANDRA C. LUN~,'
ASSISTANT E ~IVE OFFICER
BENEFIT ~CES
PERS-CON-702 (AMENDMENT)
(Rev. 9/86)
21St
CITY COUNCIL
OF THE
CITY OF DUBLIN
day of
Presiding Officer.![~~J
Witness Date
Attest:
clerk